Exhibit 99.1

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One Parlex Place, Methuen, MA 01844, (978)946-2564

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CONTACT:

Jon Kosheff
Chief Financial Officer
(978)946-2591
NASDAQ SYMBOL "PRLX"

                                                      FOR IMMEDIATE RELEASE


Parlex Corporation Reports Fourth Quarter and Fiscal Year End Financial Results

Methuen Massachusetts, August 30, 2004 - Parlex Corporation (PRLX) reported
revenues for the quarter ended June 30, 2004 of $29.1 million, a 55%
increase over the $18.8 million reported in the same period a year earlier.
Loss from operations was ($0.8 million) compared to a loss from operations
of ($2.1 million) for the fourth quarter of fiscal year 2003. The fourth
quarter net loss was ($1.6 million) for fiscal year 2004 compared to a
fourth quarter net loss of $2.3 million in fiscal year 2003. The fourth
quarter per share loss was ($0.27) compared to a loss of ($0.36) in the
prior year.

For fiscal year 2004, revenues were $95.5 million compared to fiscal year
2003 revenues of $82.8 million, a 15% improvement. Loss from operations was
($5.5 million) in fiscal 2004 compared to a loss of ($12.5 million) in
fiscal 2003. Net loss for fiscal 2004 was ($8.2 million) compared to a loss
of ($19.5 million) in fiscal 2003. The per share loss was ($1.31) versus a
per share loss of ($3.09) for the prior year.

Peter Murphy, president and CEO stated "Revenue grew 25% sequentially in
the fourth quarter and we made significant progress towards profitability.
Included in the fourth quarter operating loss were reserves of
approximately $.5 million against inventory and accounts receivable,
related to a customer dispute. Many other results indicate we are doing the
right things to strengthen our financial performance and market position.
Our book-to-bill ratio remains positive with a backlog of approximately $29
million.

Asian operations recorded the major share of growth both in the fourth
quarter and for the fiscal year. Year over year growth in China exceeded
50% and Asia now represents 38% of revenues. In the fourth quarter, our
proprietary low temperature lead free surface mount assembly technology was
transferred to China to take advantage of the growing opportunities for
adding value to our circuits.

Our Polymer Thick Film business in the United States and Europe experienced
double digit growth and solid profitability in 2004. In addition to
continued strong performance in the appliance market, significant new
business relationships were established in the medical market. The medical
market now represents over 17% of worldwide revenues with important
opportunities across all product lines.





Laminated cable sales remained strong throughout the year, an indication of
our improved North American electronics market. Increased capabilities in
our Mexican operation enhanced profitability. The Multilayer Business
sustained significant losses primarily due to underutilization of the
Methuen manufacturing center. In July, we announced a strategic
relationship with Delphi Corporation in which Parlex would supply
multilayer product to the connection systems business line. The Company
began transfer of product from Delphi into this operation late in the
quarter. This additional business will improve utilization in the
Multilayer operations over the next several quarters.

Bookings for the quarter and fiscal year 2004 were approximately $30 and
$103 million, respectively. Significant bookings were recorded in the
computer segment for inkjet printer products, in the appliance sector for
dishwasher electronics, in the medical sector for disposable medical
products and in handheld electronics for cell phone antennas.

The Company expects continued growth in fiscal year 2005 with a return to
profitability. We are carefully managing costs while we continue to
introduce new products to meet the needs of our broad customer base."

Interested parties are invited to participate in Parlex's quarterly
teleconference, which will be held on Tuesday, August 31, 2004 at 10:00 AM
Eastern Time. To participate in the conference, dial 800-247-9979 and ask
for the Parlex Quarterly Conference. This call is being webcast by CCBN and
can also be accessed at Parlex Corporation's web site at www.parlex.com by
clicking on "Investor Info" on the home page.

About Parlex
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Parlex Corporation is a world leader in the design and manufacture of
flexible, interconnect products. Parlex produces custom flexible circuits
and laminated cables utilizing proprietary processes and patented
technologies, which are designed to satisfy the unique requirements of a
wide range of customers. Its manufacturing facilities are located in the
United States, China, Mexico and the United Kingdom.


Forward Looking Statements
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This release contains "forward-looking statements" as defined under the
Federal Securities Laws. Actual results could differ materially from those
projected in the forward-looking statements as a result of certain risk
factors, including but not limited to: (i) further adverse changes in
general economic conditions; (ii) further delays or reductions in the
spending of the industry sectors we serve; (iii) the Company's ability to
effectively manage operating costs and increase operating efficiencies;
(iv) further declines in revenues; (v) insufficient, excess or obsolete
inventory; (vi) competitive factors, including but not limited to pricing
pressures, in the flexible interconnect markets; (vii) component quality
and availability; (viii) rapid technological and market change and the
transition to new products; (ix) the relative and varying rates of product
price and component cost declines; (x) the effects of war or acts of
terrorism, including the effect on the economy generally, on particular
industry segments, on transportation and communication systems and on the
Company's ability to manage logistics in such an environment, including
receipt of components and distribution of products; (xi) the ability to
attract and retain highly qualified employees; (xii) the uneven pattern of
quarterly sales; (xiii) fluctuating currency exchange rates; (xiv) risks
associated with strategic investments and acquisitions; (xv) the Company's
ability to execute on its plans;





and (xvi) other one-time events and other important factors disclosed
previously and from time to time in its filings with the U.S. Securities
and Exchange Commission.